The stock is back around its 52 week high after a huge correction. It has done much better than expected. It had fallen sharply by 25% after the earnings, but has now retraced that move completely. Investors have been rewarded, and Mannatech is now 96% up on a 52 week basis, and 167% above the 52 week low made in November. The decline in revenues in the last earnings has been forgotten, and the stock has shown strength. While it has exhibited its ability to defy fundamentals, it is important that the numbers catch up with the sharp up move. This is specially important because it is a low volume stock, and is susceptible to volatility on that account. Fundamentally, it has several positives, and if the margins improve, it can show even more strength. The price to sales and the price to book is are low. There hardly has any debt on books, and the cash position is also not bad. So it is at a stage where improvement in fundamentals can lead to a better than expected response from the stock price. Sales can be increased by new products / new markets, and focus on new segments. AMA has voted for declaring obesity as a disease, and the weight management segment is likely to show good growth. The vitamin derivative launched by Chromadex (CDXC) is showing a lot of promise in weight and diabetes management, and other companies like Medifast (MED) are also adding new offerings to their product menu all the time. Mannatech can benefit from focus on higher margin products, and that can help it turnaround on a full year basis. This is quite possible because the company reported positive net income despite declining sales. Reaction to the next earnings will be interesting.